124
124
Dec 24, 2012
12/12
by
CSPAN
tv
eye 124
favorite 0
quote 0
cliff that includes no tax increases. sbainer boehner and other republican leaders have been too scared about suffering publicly if the nation goes over the cliff and the tax sbikeses that are triggered in january. now that the plan b has failed these conservative republicans should be empower you ared to make big demands and stop caving to the president out of fear." guest: that doesn't make much sense to me. you have to get it through the house republicans then the president has to sign something, if that doesn't happen then you have very large tax increases a lot more than what they were talking about in their negotiating and you have the defense cuts that happen overtime and some other, nondefense cuts. you really have this huge amount of revenue, a lot of debt reduction. it is hard to see what demands the republicans can think will be easier to make come the new year. guest: plus, we've seen the president's approval level is at a high. and the poll should show that the republicans are going to be blamed if we go over
cliff that includes no tax increases. sbainer boehner and other republican leaders have been too scared about suffering publicly if the nation goes over the cliff and the tax sbikeses that are triggered in january. now that the plan b has failed these conservative republicans should be empower you ared to make big demands and stop caving to the president out of fear." guest: that doesn't make much sense to me. you have to get it through the house republicans then the president has to sign...
130
130
Aug 6, 2012
08/12
by
CSPAN
tv
eye 130
favorite 0
quote 0
cliff, taxes and spending cuts that could really affect the economy next year. unfortunately, i think president obama was right in terms of the market reaction. we are still being treated as a aaa country. there's been more investor interest in buying u.s. treasuries. in terms of congressional action, we have not seen a lot of progress or a lot of reasons to be optimistic about our politicians being able to get things done. host: did the downgrade affects the economy at all? you mentioned the markets and how the market's not really been affected. has it affected the economy in the big picture? guest: it affected the markets in the short term. the day after the downgrade the market's tumble. people did not know what to make of it. a year later, we see that treasuries have rallied. interest rates on the 10-year treasury, benchmark at below 1.4% recently, about one percentage point down from a year ago. if it's not that people are scared of the u.s. dollar or the u.s. treasury. the appetite for those "usa today and products has grown. -- u.s. safe haven products ha
cliff, taxes and spending cuts that could really affect the economy next year. unfortunately, i think president obama was right in terms of the market reaction. we are still being treated as a aaa country. there's been more investor interest in buying u.s. treasuries. in terms of congressional action, we have not seen a lot of progress or a lot of reasons to be optimistic about our politicians being able to get things done. host: did the downgrade affects the economy at all? you mentioned the...
151
151
Dec 31, 2012
12/12
by
CSPAN
tv
eye 151
favorite 0
quote 0
keep in mind that the threat of tax heights going up is only one part of this so-called fiscal cliff. what we also have facing us starting tomorrow or automatic spending cuts that are scheduled to go into effect. keep in mind that some of these spending cuts that congress has said will automatically go into effect have an impact on our defense department but that also have an impact on things like head start. there are some programs that are scheduled to be cut. we are using an ax instead of a scalpel. it may not always be the smartest cuts. that is a piece of business that still has to be taken care of. i want to make clear that any agreement we have to deal with these automatic spending cuts, those also have to be balanced. my principle has always been to do things in a balanced, responsible way and that means revenues as to be part of the equation in turning off the sequester as well as spending cuts. the same is true for any future deficit agreement. we will have to do more to reduce our debt and deficit. i am willing to do more but it will have to be balanced. we will have to do
keep in mind that the threat of tax heights going up is only one part of this so-called fiscal cliff. what we also have facing us starting tomorrow or automatic spending cuts that are scheduled to go into effect. keep in mind that some of these spending cuts that congress has said will automatically go into effect have an impact on our defense department but that also have an impact on things like head start. there are some programs that are scheduled to be cut. we are using an ax instead of a...
100
100
Dec 14, 2012
12/12
by
CSPAN
tv
eye 100
favorite 0
quote 0
when you think about fiscal cliff, the bush tax cuts would lapse. there is the sequestration to cut spending. then there is $1 trillion of tax increases that obama has over the next decade. obama decided to delay those taxes until after he was safely reelected. but they start kicking in in january. they are painful. they hit the middle class hard. the reason you do not raise taxes as we have a spending problem. we spend too much money. raising taxes is not part of spending less, not part of a compromise. the politicians -- what politicians do instead of reforming government. the european countries have chased their bigger spending with higher taxes and eventually put in energy taxes. and that is what obama is doing. $5 trillion in debt in one term. and he wants to take this $8 trillion more in debt over the next decade. and there is no way to raise taxes to pay for that. you have to rein in spending, raising taxes is what politicians do when you do not have the courage to reform government. host: if you go to atr.org or, you can read this new press
when you think about fiscal cliff, the bush tax cuts would lapse. there is the sequestration to cut spending. then there is $1 trillion of tax increases that obama has over the next decade. obama decided to delay those taxes until after he was safely reelected. but they start kicking in in january. they are painful. they hit the middle class hard. the reason you do not raise taxes as we have a spending problem. we spend too much money. raising taxes is not part of spending less, not part of a...
107
107
Dec 16, 2012
12/12
by
CSPAN
tv
eye 107
favorite 0
quote 0
host: let's take a look at the details of these fiscal cliff tax increases. "the bush era tax cuts expiring to the tune of $220 billion." there are other provisions expiring as well. and there are new affordable care at taxes scheduled to kick in. do you feel that there is some lag time there? that on january 1 or second, that is not a crisis moment? caller code josh is exactly right. it is more of a fiscal slope. the fiscal slick -- guest: joshes exactly right. it is more of a fiscal slope. it is the ability of people to spend money because more will be people -- more will be taken out of their paycheck, that is relatively small. taxes going up, that would not all be withheld from your paycheck. the real damage of the fiscal cliff is if it stays in place over the whole year. that is when you get the economy back into a recession. politicians know this. that is why there is not much of a demand to get this done by january. plus, if they really wanted to, they could enact something very short term to coast on the impact. host: if you would like to join the con
host: let's take a look at the details of these fiscal cliff tax increases. "the bush era tax cuts expiring to the tune of $220 billion." there are other provisions expiring as well. and there are new affordable care at taxes scheduled to kick in. do you feel that there is some lag time there? that on january 1 or second, that is not a crisis moment? caller code josh is exactly right. it is more of a fiscal slope. the fiscal slick -- guest: joshes exactly right. it is more of a fiscal...
99
99
Dec 13, 2012
12/12
by
CSPAN
tv
eye 99
favorite 0
quote 0
when you think about fiscal cliff, the bush tax cuts have collapsed, sequestration cuts spending, and then there's a trillion dollar tax increase that obama has over the next decade to pay for obamacare. interestingly, he decided to delay those taxes until after he was reelected. but they start kicking in in january. very painful and hit the middle class hard. the reason not to raise taxes is to have a spending problem. we spent too much money. raising taxes is not part of spending less. it's not part of a compromise or anything. it is what politicians do instead of. reforming of - instead of reforming government. europeans eventually put in energy taxes and that is what obama is doing. he spent his five trillion dollars in the first term and wants to take us a trillion dollars more in debt over the next decade. there's no way to raise taxes to pay for that. we have to rein in spending. raising taxes is what politicians do when they don't have the courage to reform government. host: you can read this new press release on the internet. canada and middle-class families face high medical
when you think about fiscal cliff, the bush tax cuts have collapsed, sequestration cuts spending, and then there's a trillion dollar tax increase that obama has over the next decade to pay for obamacare. interestingly, he decided to delay those taxes until after he was reelected. but they start kicking in in january. very painful and hit the middle class hard. the reason not to raise taxes is to have a spending problem. we spent too much money. raising taxes is not part of spending less. it's...
287
287
Nov 19, 2012
11/12
by
CSPAN
tv
eye 287
favorite 0
quote 0
that means avoiding the fiscal cliff, extending middle income tax cuts. we should talk about the payroll tax component, which is a significant part of the fiscal cliff. we shall look at a one-year extension for some other mechanism that delivers the same economic benefit. >> $95 billion is the price tag. is that something the country can afford when the goal is to bring the deficit down? >> the goal is to make sure we do nothing to harm a fragile economic recovery. then to lock in a long-term path to credible, stable deficit reduction. we are trying to accomplish two things and once and make sure we do not do anything in the short-term to place a drag on the economy. we should try to boost a fragile economy. >> how much latitude as the president have to do in terms of the negotiations? is he getting pressure from the democrats? does he have a free hand to talk about painful things like scaling back medicare in certain ways to generate savings there? >>the president has the confidence of the micrococcus in the house and senate. that does not mean there is
that means avoiding the fiscal cliff, extending middle income tax cuts. we should talk about the payroll tax component, which is a significant part of the fiscal cliff. we shall look at a one-year extension for some other mechanism that delivers the same economic benefit. >> $95 billion is the price tag. is that something the country can afford when the goal is to bring the deficit down? >> the goal is to make sure we do nothing to harm a fragile economic recovery. then to lock in a...
107
107
Nov 10, 2012
11/12
by
CSPAN
tv
eye 107
favorite 0
quote 0
it is critical to averting the so-called fiscal cliff -- automatic spending cuts and tax rate increases. despite the risks we should let our nation's economy go off part of the fiscal cliff by allowing the top two rates to rise. they believe that doing that would generate more revenue for the federal government. raising those rates on january 1 would destroy 700,000 american jobs. many of those hit by those tax increases are small business owners, the people who are the key to job creation. i used to be one. i offer congratulations to president obama. i offered in a tentative to sending our economy over the fiscal cliff. instead of raising taxes, let us actually solve the problem. let us focus on tax reform that close a special interest loopholes and lower tax rates instead of accepting our but if -- arbitratry tax rate. s. 2013 should be the year to begin to solve our debt through tax reform and entitlement reforms. together we should avert the fiscal cliff in a way that ensures 2013 is that year. close and special interest loopholes to end deductions and moving to a bare, cleaner and
it is critical to averting the so-called fiscal cliff -- automatic spending cuts and tax rate increases. despite the risks we should let our nation's economy go off part of the fiscal cliff by allowing the top two rates to rise. they believe that doing that would generate more revenue for the federal government. raising those rates on january 1 would destroy 700,000 american jobs. many of those hit by those tax increases are small business owners, the people who are the key to job creation. i...
149
149
Dec 4, 2012
12/12
by
CSPAN
tv
eye 149
favorite 0
quote 0
fiscal cliff. our guest is republican representative tom cole of oklahoma, a member of the appropriations and budget committee. also joined by georgetown university tax law professor john buckley on how the alternative minimum tax is affecting fiscal negotiations. "washington journal" is next. ♪ ♪ host: 25 days to go before the united states faces the fiscal cliff, the white house has rejected a proposal from house republicans to prevent tax hikes and spending cuts at the end of the year. no formal talks between the two sides are scheduled today. will go outside the nation's capital to get your voice involved. republicans -- democrats -- independents -- send us a tweet, post your comments on facebook, or send us an e-mail. we begin with some of the papers across the country today and how this latest proposal from house republicans is playing out in the papers. courtesy of "the atlantic journal-constitution" -- here is "the denver post" -- finally, here is "of the arizona republic" -- here is "t
fiscal cliff. our guest is republican representative tom cole of oklahoma, a member of the appropriations and budget committee. also joined by georgetown university tax law professor john buckley on how the alternative minimum tax is affecting fiscal negotiations. "washington journal" is next. ♪ ♪ host: 25 days to go before the united states faces the fiscal cliff, the white house has rejected a proposal from house republicans to prevent tax hikes and spending cuts at the end of...
78
78
Dec 13, 2012
12/12
by
CSPAN
tv
eye 78
favorite 0
quote 0
let's assume we go through the fiscal cliff, immigration, corporate tax reform, and investments. immigration, you are not going to do just a dream act, but you have to do a comprehensive immigration or you don't. george bush, john mccain, ted kennedy. then they decided to sabotage it. republicans of learned a lesson this time, but i'm not sure how much. corporate tax reform, i covered the 1985-1986 act. that was financed through corporate tax increase. they had the most skillful treasury secretary. people on both sides willing to work with the white house and congress. third, when you talk about infrastructure spending, investments, and things we done with n.i.h and national science foundation, all the talk now is about debt. so how do you do what they envisioned? >> once we get over the fiscal cliff we will have the discussion on the debt ceiling again in january. >> story. >> so we're not calling to get away from somewhat of a doomsday scenario for quite some time, which would allow his position. but i do think it is important, because the priorities that glenn outlined are not
let's assume we go through the fiscal cliff, immigration, corporate tax reform, and investments. immigration, you are not going to do just a dream act, but you have to do a comprehensive immigration or you don't. george bush, john mccain, ted kennedy. then they decided to sabotage it. republicans of learned a lesson this time, but i'm not sure how much. corporate tax reform, i covered the 1985-1986 act. that was financed through corporate tax increase. they had the most skillful treasury...
175
175
Dec 23, 2012
12/12
by
CSPAN
tv
eye 175
favorite 0
quote 1
the fiscal cliff needs to be avoided. the speaker should bring the middle-class tax cut to the floor of the house for a vote. only has to do is let democrats vote and it will pass. the clock is ticking. there is still time for the speaker to avoid that cliff. the senate-passed bill would protect 90% of small businesses while president obama [inaudible] and that agreement should be comprehensive. simply pass the senate bill. the only reason he worked for a day or two so it would not pass. that did not work either. americans are not fooled by the speaker's thani procedural excuses -- phony procedural excuses. let me be very plain. there is nothing preventing the speaker from taking up our bill and giving middle-class families certainty. this is not a game. there will be very serious consequences for millions of families if congress fails to compromise. there will be serious consequences for our country if congress kills to compromise. -- fails to compromise. it is time for the house republicans to remember what is at stake.
the fiscal cliff needs to be avoided. the speaker should bring the middle-class tax cut to the floor of the house for a vote. only has to do is let democrats vote and it will pass. the clock is ticking. there is still time for the speaker to avoid that cliff. the senate-passed bill would protect 90% of small businesses while president obama [inaudible] and that agreement should be comprehensive. simply pass the senate bill. the only reason he worked for a day or two so it would not pass. that...
191
191
Jul 27, 2012
07/12
by
CSPAN
tv
eye 191
favorite 0
quote 0
what ben bernanke called a fiscal cliff refers to the expiration of the bush tax cuts at the end of the year and the automatic budget cuts that coming. what congressional leaders are talking about now is how to avoid also a threat of a government shutdown based on appropriations bills and we've seen conservatives, republicans, and also democrats in both chambers, the house and senate approaching each other in saying we want to avoid the threat of a government shutdown. this won't look good for anybody. so i think we might see some movement to keep the government funded through next year. host: and if they extended for six months, what would be the mechanics of that with sequestration and that sort of thing? guest: presumably, you can just write a bill by saying we can keep everything going since june. the problem with this policy and we saw this in 2011 is that it had effects on the economy when there's this much uncertainty about what the government is going to do. there's certainly in the financial markets, the stock markets, they did very badly because there were so much uncertainty
what ben bernanke called a fiscal cliff refers to the expiration of the bush tax cuts at the end of the year and the automatic budget cuts that coming. what congressional leaders are talking about now is how to avoid also a threat of a government shutdown based on appropriations bills and we've seen conservatives, republicans, and also democrats in both chambers, the house and senate approaching each other in saying we want to avoid the threat of a government shutdown. this won't look good for...
160
160
Dec 13, 2012
12/12
by
CSPAN
tv
eye 160
favorite 0
quote 0
happens with the fiscal cliff. this is an arbitrary, across-the-board tax increase. the combination of which will mean that if we are unable to resolve the fiscal cliff without raising taxes, we'll already see a lot of new taxes as a result of the health care law on financial transactions, on insurance programs, on every single working american. so that's why we have our speaker, john boehner, trying to present president obama with an alternative that says rather than raising taxes which is already going to happen on january 1 from this massive new tax increase that was in the health care bill, why don't we find a way to understand and have the economy take that in hand first? i know the president stood here at the state of the union address and said we're not going to spend one dime of taxpayer money. i know the president stood here and said every single american can keep your own insurance plan. i know the president has made these promises to the american people and these are things that we're going to have to un
happens with the fiscal cliff. this is an arbitrary, across-the-board tax increase. the combination of which will mean that if we are unable to resolve the fiscal cliff without raising taxes, we'll already see a lot of new taxes as a result of the health care law on financial transactions, on insurance programs, on every single working american. so that's why we have our speaker, john boehner, trying to present president obama with an alternative that says rather than raising taxes which is...
158
158
Sep 28, 2012
09/12
by
CSPAN
tv
eye 158
favorite 0
quote 0
we need a fiscal policy. this fiscal cliff is also very dangerous. you have tax cuts which will expire at the end of the year when spending programs will expire. americans will face -- those people in the metal in terms of income -- they will face the highest tax increase since world war ii. that will happen in january 1 unless these guys get together and do some kind of a grand bargain or an extension. there is such hatred and they cannot make a deal. the tax cuts will expire. the spending programs expiring is another problem. there are federal programs for health care companies, they get federal dollars so they can do those programs. those programs are going away january 1. they will have to notify employees that their jobs are cut. a host of layoffs at year and as a result of ignoring the fiscal cliff. that is why there is some much talk about it. we're walking on shaky ground. the president has not been able to provide the leadership required to get these groups together, the right and the left. part of the job of the commander in chief has to be
we need a fiscal policy. this fiscal cliff is also very dangerous. you have tax cuts which will expire at the end of the year when spending programs will expire. americans will face -- those people in the metal in terms of income -- they will face the highest tax increase since world war ii. that will happen in january 1 unless these guys get together and do some kind of a grand bargain or an extension. there is such hatred and they cannot make a deal. the tax cuts will expire. the spending...
73
73
Dec 29, 2012
12/12
by
CSPAN
tv
eye 73
favorite 0
quote 0
cliff because the fiscal cliff compass more than just taxes. you've got the quester and the unemployment insurance. the republicans and democrats know that they can't afford to go back in a recession at this point and the republicans are going to get blamed for it. the taxes still increased and y'all promised not to do that and on the other hand, if they make a deal now, they can go back and say look, we're not in total control. we only control the one branch of government so we made a deal to keep the taxes, you know, low on 98% of the country and that's to win. and as far as the sequester, the afford to lose all those military jobs. that's 100 million jobs possibly lost. and then you've got the unemployment, you know, two million people unemployment, they can't afford not to have that revenue injected into the system so i believe come monday, they're going to have a deal. i believe it. there's not -- they are not -- i'm going to guarantee you you guys. host: eve got a guarantee from antonio. joseph rosenberg who makes a living researching thi
cliff because the fiscal cliff compass more than just taxes. you've got the quester and the unemployment insurance. the republicans and democrats know that they can't afford to go back in a recession at this point and the republicans are going to get blamed for it. the taxes still increased and y'all promised not to do that and on the other hand, if they make a deal now, they can go back and say look, we're not in total control. we only control the one branch of government so we made a deal to...
140
140
Nov 8, 2012
11/12
by
CSPAN
tv
eye 140
favorite 0
quote 0
ways and means, which might see a lot of action with fiscal cliff and tax reform, entitlement stuff, always goes through ways and means -- dave on.p, like fred andupt judiciary committee, he will make a bid for the science committee. he will find themselves in competition with james sensenbrenner, who indicated he is interested in that job as well. ralph hall, the chairman now, term limits. transportation and fende -- and infrastructure headed by john mica, he is term limited in that role and there are a few people will have seniority and the either have committee assignments or are not looked upon as viable. it looks like we are passing the baton to a new generation. bill schuster, the son of bud shuster, old transportation committee chairman, he is making a very strong play for the chairmanship of that. that will be just in time for congress to start thinking about another reauthorization of transportation programs, the highway bill, if you will. there is a short-term extension. they will have to revisit that in the 113th congress and representative schuster will at least have a st
ways and means, which might see a lot of action with fiscal cliff and tax reform, entitlement stuff, always goes through ways and means -- dave on.p, like fred andupt judiciary committee, he will make a bid for the science committee. he will find themselves in competition with james sensenbrenner, who indicated he is interested in that job as well. ralph hall, the chairman now, term limits. transportation and fende -- and infrastructure headed by john mica, he is term limited in that role and...
143
143
Jul 23, 2012
07/12
by
CSPAN
tv
eye 143
favorite 0
quote 0
host: talking about the looming fiscal cliff and tax policies and other policies that will kick in over the next few months, the committee for responsible federal budget outlines policies that expire or activate an hour after 2012 including the bush-a tax cuts, the sequester. what can realistically be accomplished this year of such as getting pushed off to the lame duck session? how do you see this getting out with? guest: you keep hearing, "we cannot deal with this in an election year." i know that is frustrating for many of us. we have this huge problem, we're taking a year off because it is an election year? nobody else gets to take off the air. we need to be working on this immediately. there are tons of efforts going on in the hill. we need to make sure we are ready to go. if the reality is we are not want to be of a talk about a dead deal until after the election, well, that is a shame, but there is a lot that could be done until then. we need to figure out how to get it done. we cannot get rid of the cliff, and we certainly cannot punt without of these taking the first step. at t
host: talking about the looming fiscal cliff and tax policies and other policies that will kick in over the next few months, the committee for responsible federal budget outlines policies that expire or activate an hour after 2012 including the bush-a tax cuts, the sequester. what can realistically be accomplished this year of such as getting pushed off to the lame duck session? how do you see this getting out with? guest: you keep hearing, "we cannot deal with this in an election...
146
146
Nov 12, 2012
11/12
by
CSPAN
tv
eye 146
favorite 0
quote 0
later, lindy paull will discuss tax rates and the fiscal cliff. [video clip] >> i enjoyed watching book tv. c-span provides end-to-end coverage of events. c-span is a great way to get an unfiltered view of the day's events. hills watches c- span on comcast. >> 2013 should be the year that we begin to resolve our debt through tax reform and the entire region entitlement reform. i suggest we move through the fiscal cliff together, that this be the year that our government comes to grips with the problems facing us. to new ideas, committed to solving our fiscal challenges, but i refuse to accept any approach that is not balanced. i will not be asking students, seniors, and middle-class families to pay down the entire deficit but people like me, being paid $250,000, are not asked to pay one dime more in taxes. >> work is expected on the impending fiscal cliff in this typically referred to as a lame duck session, with planned cuts spending, also known as sequestration. follow all of the debates and tuesday, with live house coverage. >> "washington jour
later, lindy paull will discuss tax rates and the fiscal cliff. [video clip] >> i enjoyed watching book tv. c-span provides end-to-end coverage of events. c-span is a great way to get an unfiltered view of the day's events. hills watches c- span on comcast. >> 2013 should be the year that we begin to resolve our debt through tax reform and the entire region entitlement reform. i suggest we move through the fiscal cliff together, that this be the year that our government comes to...
54
54
Dec 28, 2012
12/12
by
CSPAN
tv
eye 54
favorite 0
quote 0
on the fiscal cliff, how does that affect people that are selling? guest: the capital gains tax rate will be rising to 20%. there is an exemption. the first half million dollars will not qualify as additional capital gains. for most homeowners, if we have fiscal cliff, the selling of the home, there will not be a cowboy gains taxes associated with it. -- capital gains tax associated with it. that would fall under the exemption of half a million dollars for most families. host: we have a tweet from boringfileclerk. guest: enlarge tax increase and large number of middle class families and they will be hesitant to buy a home. host: are subprime loans still being marketed? guest: for a subsection of the population, perhaps it is -- say a young couple, one is a medical doctor and one is a lawyer, graduated with high debt. people can see to have high income potential. in mortgage that does not qualify as standard may be for this family. the subprime loan began to give out to anybody. anyone with a heartbeat. that was a mistake. the subprime mortgage origin
on the fiscal cliff, how does that affect people that are selling? guest: the capital gains tax rate will be rising to 20%. there is an exemption. the first half million dollars will not qualify as additional capital gains. for most homeowners, if we have fiscal cliff, the selling of the home, there will not be a cowboy gains taxes associated with it. -- capital gains tax associated with it. that would fall under the exemption of half a million dollars for most families. host: we have a tweet...
141
141
Nov 19, 2012
11/12
by
CSPAN
tv
eye 141
favorite 0
quote 0
guest: we have a short-term challenge which is the fiscal cliff, the tax cuts, the schedule, probably the tax increases that are scheduled, the expiration of tax cuts, and the schedule sequestration, and other spending cuts. that is short-term. the structural is known demographic trends, 10,000 people a day are retiring and will over the net 17 years. all care costs are still growing much faster than inflation and the economy. our tax system is outdated and needs to be restructured. those create large and growing deficits into the future. it's not a long-term anymore. it is the longer-term. we see it. these are going to be with us a long time and we need to recognize that reality sooner rather than later. host: first call from philadelphia, frank on our republican line. caller: good morning. i wanted to know if you -- whether or not the president will have to lower its threshold to people that are probably making around $200,000 a year. i don't think what he said during his campaign is going to cut its to get us over the cliff. guest: i think over time we will have to look and help to
guest: we have a short-term challenge which is the fiscal cliff, the tax cuts, the schedule, probably the tax increases that are scheduled, the expiration of tax cuts, and the schedule sequestration, and other spending cuts. that is short-term. the structural is known demographic trends, 10,000 people a day are retiring and will over the net 17 years. all care costs are still growing much faster than inflation and the economy. our tax system is outdated and needs to be restructured. those...
203
203
Jul 7, 2012
07/12
by
CSPAN
tv
eye 203
favorite 0
quote 0
end of the year, the fiscal cliff will accelerate. host: we are speaking with pedro de costa. independent.n maria? my mistake. go ahead. caller: yes, i am -- it is obvious. i am against welfare 100%. because welfare is a waste of money. it is supposed to be for people who are not able to work and a lot of people are taking advantage of it. a lot of children. guest: how would you feel about people getting paid to work rather than for welfare? caller: well, i am -- and a lot of people are complaining about not having a job, but my experience is that every time i have to deal with questions from the government, they always have an attitude. guest: -- host: she lives in miami. as a look at these jobs numbers, unemployment benefits have been a hot issue. she was talking about welfare. there is another program, unemployment benefits, that helps people to work out of a job. talk to us about how these numbers affect reality. we have a tweet -- host: pedro de costa, explain the numbers. >guest: could argue the real number is 15% in the sense t
end of the year, the fiscal cliff will accelerate. host: we are speaking with pedro de costa. independent.n maria? my mistake. go ahead. caller: yes, i am -- it is obvious. i am against welfare 100%. because welfare is a waste of money. it is supposed to be for people who are not able to work and a lot of people are taking advantage of it. a lot of children. guest: how would you feel about people getting paid to work rather than for welfare? caller: well, i am -- and a lot of people are...
191
191
Dec 22, 2012
12/12
by
CSPAN
tv
eye 191
favorite 0
quote 0
the clock is ticking until the nation goes over the fiscal cliff and taxes go up for every american. it is time for the spigot to put on the brakes and avoid that cliff the west for the speaker to put on the brakes and avoid that cliff. the senate passed a bill will protect 19% -- small businesses from a crippling tax the 1-90% of small businesses from a crippling -- 90% of small businesses from a crippling tax increase. the only reason the speaker has not brought the bill to the senate is that he knows it will pass. host: your thoughts about what the majority leader had to say. guest: it is true that the speaker has passed a tax bill out of the house that would avoid the fiscal cliff. the senator's bill would protect 98% of americans from a tax increase. it is not fair to say one side is not compromising and the other is. i think they will reach an agreement with a cap of $500,000 and people -- $500,000 and people above that will receive a tax increase. people say, the people who make more than $500,000 can afford higher taxes. one of the points in my book is that the people in the
the clock is ticking until the nation goes over the fiscal cliff and taxes go up for every american. it is time for the spigot to put on the brakes and avoid that cliff the west for the speaker to put on the brakes and avoid that cliff. the senate passed a bill will protect 19% -- small businesses from a crippling tax the 1-90% of small businesses from a crippling -- 90% of small businesses from a crippling tax increase. the only reason the speaker has not brought the bill to the senate is that...
75
75
Dec 20, 2012
12/12
by
CSPAN
tv
eye 75
favorite 0
quote 0
the fiscal cliff and the nat alternative would actually provide millionaires with a $50,000 tax cut on average while 25 million american families will actually see a tax increase of $1,000 on average, including, mr. speaker, some of our soldiers on the front line in afghanistan today. and majority leader talked about doing the math. do the math on the tax plan, because that's exactly what it shows. what the president has called for is a balanced plan that asks for the wealthiest to share the burden of our deficit challenge and make sure had a we get our economy in full gear. and with that i yield a minute and a half to the distinguished ranking member of the ways and means committee, mr. levin. the speaker pro tempore: the gentleman from michigan. mr. levin: i ask unanimous consent to revise and extend my remarks. the speaker pro tempore: without objection. mr. levin: i did not know i would follow the distinguished majority leader. i just want to say -- and i also want to talk about plan c -- br for he or anybody else to come on the floor and say the president hasn't proposed spendi
the fiscal cliff and the nat alternative would actually provide millionaires with a $50,000 tax cut on average while 25 million american families will actually see a tax increase of $1,000 on average, including, mr. speaker, some of our soldiers on the front line in afghanistan today. and majority leader talked about doing the math. do the math on the tax plan, because that's exactly what it shows. what the president has called for is a balanced plan that asks for the wealthiest to share the...
327
327
Sep 11, 2012
09/12
by
CSPAN
tv
eye 327
favorite 0
quote 0
10-year tax cut, so then you might say, ok, why did you not hit the fiscal cliff? we did. i was working for the white house then. there was the december deal between the president and the democrat and republican leadership to expand these tax cuts for another couple of years. guess what? another couple of years is almost over. fiscal archaeology there it, the origin, but more pointedly, getting to the origins of the fiscal cliff as we know and do not love it today, you have to go back to 2011 and talked about the debt ceiling debacle, whatever you want to call it. in 2011, the u.s. treasury was about to bomb, against something called the debt ceiling. there is an amount above which, some number of trillions, in the teens, the government may not borrow to finance its debt and to make its interest payments. there is some debt we owe to the public and others that we go to ourselves, but that is not relevant. there is dead that we have to pay interest on, if we do not pay our interest on our debt, we would've fought just as you would do if we did not pay our mortgage.
10-year tax cut, so then you might say, ok, why did you not hit the fiscal cliff? we did. i was working for the white house then. there was the december deal between the president and the democrat and republican leadership to expand these tax cuts for another couple of years. guess what? another couple of years is almost over. fiscal archaeology there it, the origin, but more pointedly, getting to the origins of the fiscal cliff as we know and do not love it today, you have to go back to 2011...
66
66
Aug 23, 2012
08/12
by
CSPAN
tv
eye 66
favorite 0
quote 0
clef is the middle class tax -- fiscal cliff is the so-called middle-class tax cuts that republicans and democrats believe should be extended. the senate passed a bill that extended these tax cuts for 98% of the american people. the house ought to do the same. by doing that, we can alleviate some concern about the so-called fiscal cliff, which should not, regardless, take any pressure of congress from the absolute need to act. but it should demonstrate to the american people the ability of congress to come together and pass something that everybody says they agree on and the president agrees on. that is the single biggest concern of -- that makes up the so-called fiscal cliff. if they pass that tax cut tomorrow, that would go significant ways toward alleviating concerns about the fiscal cliff. >> given everybody campaigning, the absence of a former -- formal study -- >> he told you earlier this week, he recognizes the fact that because congress will be in town for less than two weeks between now and the election, significant progress with congress may not be all that likely. there ar
clef is the middle class tax -- fiscal cliff is the so-called middle-class tax cuts that republicans and democrats believe should be extended. the senate passed a bill that extended these tax cuts for 98% of the american people. the house ought to do the same. by doing that, we can alleviate some concern about the so-called fiscal cliff, which should not, regardless, take any pressure of congress from the absolute need to act. but it should demonstrate to the american people the ability of...
143
143
Aug 4, 2012
08/12
by
CSPAN
tv
eye 143
favorite 0
quote 0
that is why we are approaching this fiscal cliff because no one can figure out what to cut and whose taxes to raise. host: we had this on bloomberg.com. service industries in the u.s. expanded helped by a pickup in orders. explain what that means. is this the trends were where jobs are going to be? -- the trend for where jobs are going to be? guest: it is a highly watched survey. it was very positive. we are now producing more goods and services than we have been over the last several months. yet the unemployment remains high. we are basically doing moreof w. productivity is probably at an all-time high. the orders number is important because it does indicate it is forward-looking. we expect people to be buying so we have to be ready. there is tough in the pipeline moving through with the idea that the consumer will spend money. that is a positive thing. even host: with this growth in orders, it sounds like companies are going to focus more on hiring part-time workers. guest: part-time or doing more with what they have already and that is because of the uncertainty. everybody hates t
that is why we are approaching this fiscal cliff because no one can figure out what to cut and whose taxes to raise. host: we had this on bloomberg.com. service industries in the u.s. expanded helped by a pickup in orders. explain what that means. is this the trends were where jobs are going to be? -- the trend for where jobs are going to be? guest: it is a highly watched survey. it was very positive. we are now producing more goods and services than we have been over the last several months....
63
63
Dec 12, 2012
12/12
by
CSPAN
tv
eye 63
favorite 0
quote 0
we passed a bill a few months ago that prevents the fiscal cliff by saying no taxes will be increased, a bipartisan bill. all of those votes, were criticized for. they called us right wing nuts and extremists. we explain to the people what we want to do to get our economy moving again, but also to control spending in washington. and we were reelected with a mandate not only to continue to be in charge of the house, but to be the line of defense against the radical administration. i think we know what our task is. all but, for candidates -- all but four of the 30 candidates elected are talking about joining rsc. they were elected on these principles we believe in. i am comfortable with where we are positioned now, but i know it is going to be a tough ride ahead. we would not be doing this if it was not a mandate the people sent us to go do. >> something on all of our minds is the fiscal cliff. i would be remiss if i did not ask you both to weigh in on it in the following way. first, what is going on that we do not understand? number two, what should happen? number 3, what is the rsc go
we passed a bill a few months ago that prevents the fiscal cliff by saying no taxes will be increased, a bipartisan bill. all of those votes, were criticized for. they called us right wing nuts and extremists. we explain to the people what we want to do to get our economy moving again, but also to control spending in washington. and we were reelected with a mandate not only to continue to be in charge of the house, but to be the line of defense against the radical administration. i think we...
123
123
Dec 21, 2012
12/12
by
CSPAN
tv
eye 123
favorite 0
quote 0
we know, 11 days from now, we are going over the so-called fiscal cliff. what does that mean? every american will see a tax increase go into effect. we know there will be a massive sequester. we passed the rule -- i guess you have a rule on that. the defense authorization act -- we know it could have a devastating impact on national security. we know, not universally, very few -- democrat and republican alike, by and large they recognize that increasing taxes on working americans will in fact create a scenario which will impinge on our ability to encourage the kind of gross domestic product growth that is important for us and for our security as well. economic security and overall national security. so i think about my former california colleague, now secretary of defense, leon panetta, who has said
we know, 11 days from now, we are going over the so-called fiscal cliff. what does that mean? every american will see a tax increase go into effect. we know there will be a massive sequester. we passed the rule -- i guess you have a rule on that. the defense authorization act -- we know it could have a devastating impact on national security. we know, not universally, very few -- democrat and republican alike, by and large they recognize that increasing taxes on working americans will in fact...
143
143
Nov 21, 2012
11/12
by
CSPAN
tv
eye 143
favorite 0
quote 1
the fiscal cliff, taxes are not the problem. the banking system is the problem. when clinton was in office, people paid higher taxes. since bush and obama, everybody's paying lower taxes. you have to reinstate glass- steagall. we have $40 trillion in american business overseas. they're not going to keep them in the u.s. banks. give these people to keep tax rates and put the money back into the banks and this problem would be solved. right now they're grabbing the american people's money. until people realize the banking system is the problem, we will keep going around in circles until people realize what the real problem is. host: johnny from pensacola, florida, on the democratic line. go ahead. caller: i want to speak on the fiscal cliff. who controls the fiscal cliff? is it congress? host: there are ongoing negotiations over the various fiscal policies that need to be changed between congress and the white house, burt congress makes -- but congress is the one who makes the laws. caller: president obama could not put anything in there before his term going out.
the fiscal cliff, taxes are not the problem. the banking system is the problem. when clinton was in office, people paid higher taxes. since bush and obama, everybody's paying lower taxes. you have to reinstate glass- steagall. we have $40 trillion in american business overseas. they're not going to keep them in the u.s. banks. give these people to keep tax rates and put the money back into the banks and this problem would be solved. right now they're grabbing the american people's money. until...
133
133
Dec 14, 2012
12/12
by
CSPAN
tv
eye 133
favorite 0
quote 0
fiscal cliff. >> my inspirtation was the idea -- i wanted to explain how totalitarianism happened. we do know the story of the cold war. we know the documents. we have seen the archives that describe relationships between first roosevelt and stalin and churchill and then truman. we know the main events from our point of view. we have read and written them. i wanted to show from a different angle, from the ground up, what did it feel like to be one of the people who were subjected to the system and how did people make choices in that system and how did they react and how did they behave? one thing that has happened since 1989 is the region that we used to call eastern europe has become very differentiated. these countries no longer even have much in common with one another, except for the common memory of communist occupation. >> more with pulitzer prize winner anne applebaum on life in soviet east germany, poland, and hungary from the end of world war ii through 1956, from her historical narrative,
fiscal cliff. >> my inspirtation was the idea -- i wanted to explain how totalitarianism happened. we do know the story of the cold war. we know the documents. we have seen the archives that describe relationships between first roosevelt and stalin and churchill and then truman. we know the main events from our point of view. we have read and written them. i wanted to show from a different angle, from the ground up, what did it feel like to be one of the people who were subjected to the...
81
81
Dec 27, 2012
12/12
by
CSPAN
tv
eye 81
favorite 0
quote 0
the national debt is the fiscal cliff. we say it's unsustainable. from a mathematical standpoint, it is almost insurmountable. the only thing these taxes will do, i have graduate students who could not put into words what a trillion dollars was. host: go ahead and finish your thought on what these taxes will do. caller: what they will do is they will give the politicians a little leeway to fool around with the national deficit, the annual deficit, but they will not put a dent in the $16 trillion debt that we owe. that is the problem. host: we appreciate that call. over the past couple weeks, c- span has been conducting interviews with some of the retiring members. we have been showing those interviewed this week. tonight, one of the retiring members we spoke with is representative lynn woolsey, a democrat of california, served about 20 years. here's a portion of that interview. [video clip] >> i was on welfare because my children, ages 1, 3, and five years old, their father was diagnosed manic depressive, he would not do anything about it, so i beca
the national debt is the fiscal cliff. we say it's unsustainable. from a mathematical standpoint, it is almost insurmountable. the only thing these taxes will do, i have graduate students who could not put into words what a trillion dollars was. host: go ahead and finish your thought on what these taxes will do. caller: what they will do is they will give the politicians a little leeway to fool around with the national deficit, the annual deficit, but they will not put a dent in the $16...
107
107
Dec 7, 2012
12/12
by
CSPAN
tv
eye 107
favorite 0
quote 0
the fiscal cliff involves nearly four dollars of anticipated revenue from higher taxes for every dollar of spending cuts, yet the president wants more revenue and fewer spending cuts. if we fell off the cliff, his plan calls for another round of stimulus spending. you have got to be kidding me. lackshe president's plan is any reform in our entitlement system. the unrestrained growth in entitlement system is driving deficits and driving the debt even higher than the percentage of our gdp. it is estimated to be as high as $128 trillion. even if they confiscate all of the income that excesses $1 million, we cannot pay for the entitlement commitments that the federal government has made. we have made promises to ourselves that we simply cannot keep. without some sensible entitlement reform, our credit rating will be downgraded again. we will become a country that none of us recognize. secondly, fiscal plans failed to achieve their government budget deficit or debt reduction goals. dr. hassett has examined fiscal plans in other countries. on average, unsuccessful plans proposed an increase i
the fiscal cliff involves nearly four dollars of anticipated revenue from higher taxes for every dollar of spending cuts, yet the president wants more revenue and fewer spending cuts. if we fell off the cliff, his plan calls for another round of stimulus spending. you have got to be kidding me. lackshe president's plan is any reform in our entitlement system. the unrestrained growth in entitlement system is driving deficits and driving the debt even higher than the percentage of our gdp. it is...
100
100
Nov 8, 2012
11/12
by
CSPAN
tv
eye 100
favorite 0
quote 0
we're all talking about the fiscal cliff and all the tax rates expiring t payroll tax holiday for example that will expire and will be on the table in the larger discussions. but it's really going to come down to the debt limit. and will the conservatives in the house be willing to compromise on voting to increase the debt limit when that vote comes up? now one may argue -- we've talked about the debt limit being part of the fiscal cliff. but we know treasury has been able to play games with what that final deed line is. so the treasury can play games. even though the debt limit could be up by the end of this year, that could be pushed into february or march of next year. so i think it comes down to the debt limit and will the conservatives be willing to compromise. i don't think they will. then it comes down to the administration as well as democratic leadership in the senate be willing to compromise on spending, entitlements, things of that sort. but debt limit is really the big boeing gi i see out there. >> the reason i don't think there is going to be a compromise in the house is if y
we're all talking about the fiscal cliff and all the tax rates expiring t payroll tax holiday for example that will expire and will be on the table in the larger discussions. but it's really going to come down to the debt limit. and will the conservatives in the house be willing to compromise on voting to increase the debt limit when that vote comes up? now one may argue -- we've talked about the debt limit being part of the fiscal cliff. but we know treasury has been able to play games with...
186
186
Jul 18, 2012
07/12
by
CSPAN
tv
eye 186
favorite 0
quote 0
eastern the money section of "usa today" -- host: the economy, taxes, and fiscal cliff are the issues that came up yesterday as a familiar figure on capitol hill returned. this is a photograph from "the new york times." dick cheney. we are joined by a reporter from "mihill." first of all, what was the message of the vice-president? what did he tell republicans? guest: the message was sequestration, which is the plan that went into effect after the super committee failed to cut $1.2 billion -- $1.2 trillion from the national deficit. if they went through, that would devastate national security. that was basically the message that i took and others took from the meeting host: you also -- from the meeting. host: you also mentioned that defense cuts. what was the message from the vice president on that? guest: on the specifics states, he basically just said that those specific cuts would have a devastating effect on the economy at large. when you take into account those job losses in the defense sector, specifically in those states you mentioned, it would -- a lot of folks would run up th
eastern the money section of "usa today" -- host: the economy, taxes, and fiscal cliff are the issues that came up yesterday as a familiar figure on capitol hill returned. this is a photograph from "the new york times." dick cheney. we are joined by a reporter from "mihill." first of all, what was the message of the vice-president? what did he tell republicans? guest: the message was sequestration, which is the plan that went into effect after the super committee...
87
87
Jul 23, 2012
07/12
by
CSPAN
tv
eye 87
favorite 0
quote 0
what is the fiscal cliff? guest: are facing a number of items, a veryg significant sequester, across- the-board spending cuts, all coming in at once come out not softly. these are automatic changes where congress is not looking at what will be good and what we do not need to do, but instead it is a blunt tool. compass says we're going to have these automatic changes. not a good way to make changes because it will be so sudden it will put us back into recession, will go after many of the parts of the budget better not causing problems, and will not fix the problem areas of the budget. but you want to do is not go over that fiscal cliff. two, not punt, which is what we have seen way too many times out of congress. it adds chileans were to the debt, which would lead down to a fiscal downgrade, which would lead to another crisis. you'd need to replace this with a big comprehensive debt deal, and we need to be working as quickly as possible, not waiting until the last minute. congress seems to be hurtling toward a
what is the fiscal cliff? guest: are facing a number of items, a veryg significant sequester, across- the-board spending cuts, all coming in at once come out not softly. these are automatic changes where congress is not looking at what will be good and what we do not need to do, but instead it is a blunt tool. compass says we're going to have these automatic changes. not a good way to make changes because it will be so sudden it will put us back into recession, will go after many of the parts...
94
94
Dec 28, 2012
12/12
by
CSPAN
tv
eye 94
favorite 0
quote 0
guest: the fiscal cliff is the combination of a bunch of different tax and spending decisions made by washington, dating back over the past 12 years. we had the bush tax cuts that began in 2001 and 2003. we extended them under president obama. those are set to end on monday. $110 billion in annual spending cuts were agreed to under president obama as part of the debt ceiling negotiation. those begin on tuesday. we have the payroll tax cut in place for two years, takes about two percentage points off people's taxes, bill will end on monday. business tax breaks, bill will end on monday. the alternative minimum tax, which is confusing, but it would be a disaster if that was not taken care of, because it would raise the taxes of about 30 million americans for their 2012 income and 2013. and all the confusion could screw up the whole tax filing season. who knows when you will be filing your taxes, because the irs does not know which tax rates will be applied and who will be responsible for paying what. so it's going to be a mess if this is not handled quickly. host: if we are sitting here
guest: the fiscal cliff is the combination of a bunch of different tax and spending decisions made by washington, dating back over the past 12 years. we had the bush tax cuts that began in 2001 and 2003. we extended them under president obama. those are set to end on monday. $110 billion in annual spending cuts were agreed to under president obama as part of the debt ceiling negotiation. those begin on tuesday. we have the payroll tax cut in place for two years, takes about two percentage...
175
175
Dec 9, 2012
12/12
by
CSPAN
tv
eye 175
favorite 0
quote 0
the fiscal cliff involves nearly four dollars of anticipated revenue from higher taxes for every dollar of spending cuts, yet the president wants more revenue and fewer spending cuts. if we fell off the cliff, his plan calls for another round of stimulus spending. you have got to be kidding me. what the president's plan lacks is any reform in our entitlement system. the unrestrained growth in entitlement system is driving deficits and driving the debt even higher than the percentage of our gdp. it is estimated to be as high as $128 trillion. even if they confiscate all of the income that excesses $1 million, we cannot pay for the entitlement commitments that the federal government has made. we have made promises to ourselves that we simply cannot keep. without some sensible entitlement reform, our credit rating will be downgraded again. we will become a country that none of us recognize. secondly, fiscal plans failed to achieve their government budget deficit or debt reduction goals. dr. hassett has examined fiscal plans in other countries. on average, unsuccessful plans proposed an inc
the fiscal cliff involves nearly four dollars of anticipated revenue from higher taxes for every dollar of spending cuts, yet the president wants more revenue and fewer spending cuts. if we fell off the cliff, his plan calls for another round of stimulus spending. you have got to be kidding me. what the president's plan lacks is any reform in our entitlement system. the unrestrained growth in entitlement system is driving deficits and driving the debt even higher than the percentage of our gdp....
205
205
Oct 9, 2012
10/12
by
CSPAN
tv
eye 205
favorite 0
quote 0
this whole fiscal cliff tax think is a sham, because since the 1980's, will the people have been able to find tax loopholes. the new york times had an article that was "these islands are not jus shelters for taxes." 30,000 people and 457 companies bank in the virgin islands. i don't think its taxes. it is the trans-pacific partnership. i really believe banks are holding onto their cash reserves because the trans-pacific partnership is going to be the biggest free trade agreement the world has ever seen. it's going to reshape business. it's going to reshape labor in such a huge way within the next year or two. host: let's get a response. guest: there is an overarching concern that the tax code has become extremely complex and that those on the upper end are able to hire accountants and experts who can help them pay their taxes or avoid taxes and that most folks sitting around a table using whatever outlet they used to do their taxes, and maybe don't have the ability to work the tax code. that's one of the goals of both parties would say is something they would hope to accomplish with b
this whole fiscal cliff tax think is a sham, because since the 1980's, will the people have been able to find tax loopholes. the new york times had an article that was "these islands are not jus shelters for taxes." 30,000 people and 457 companies bank in the virgin islands. i don't think its taxes. it is the trans-pacific partnership. i really believe banks are holding onto their cash reserves because the trans-pacific partnership is going to be the biggest free trade agreement the...
105
105
Nov 22, 2012
11/12
by
CSPAN
tv
eye 105
favorite 0
quote 0
clearly, when you look at the fiscal condition, the consequences of going over the fiscal cliff -- republicans are going to have to abrogate that pledge. it is not conservatism bound to 35% tax rate. that is not one of the immutable principles of american conservatism. we want taxes to be as low as they can possibly be while running a government that is not bankrupt and in structural deficit for as far as the eye can see. you will have to see republican leaders step up here and meet the president's somewhere in the middle on this to get the country's fiscal path on a path to solvency so we can start to have economic growth again in the country. >> do you want to comment a little bit about what you expect from the next six weeks? not even six weeks? however many weeks it is now between -- between now and the start of this booklet. working in the white house limits what you can say, but how you see his plan at between now and january? >> steve is exactly right, all the you are seeing a very concerted members of the house dig in on a no revenues. it is good to see many republicans saying yes. i c
clearly, when you look at the fiscal condition, the consequences of going over the fiscal cliff -- republicans are going to have to abrogate that pledge. it is not conservatism bound to 35% tax rate. that is not one of the immutable principles of american conservatism. we want taxes to be as low as they can possibly be while running a government that is not bankrupt and in structural deficit for as far as the eye can see. you will have to see republican leaders step up here and meet the...
95
95
Nov 24, 2012
11/12
by
CSPAN
tv
eye 95
favorite 0
quote 0
the fiscal cliff elapsing tax cuts. the second piece is the sequestration. $100 billion a year being sequestered from the increases in the budget. these are not cuts the way you or i think of cuts. these are budget increasing not as rapidly as the various agencies will buy them to. the $2 billion of that is out of national defense and $30 billion of that at the domestic discretionary -- $50 billion of that is out of national defense and $50 billion of that is domestic discretionary. will the republicans keep obama on a short leash and give him an allowance every month in return for better behavior or will they give him a debt ceiling that goes along time? what will happen? one option is looked to history. two years ago we faced exactly this situation, the 2001 2003 tax cuts all lapsed. we had a republican house coming in, and democratic senate and democratic president. why would that not the way you do? obama says i will hold my breath until i turn blue and stamp my feet. 2 years ago he said he did not want to raise tax
the fiscal cliff elapsing tax cuts. the second piece is the sequestration. $100 billion a year being sequestered from the increases in the budget. these are not cuts the way you or i think of cuts. these are budget increasing not as rapidly as the various agencies will buy them to. the $2 billion of that is out of national defense and $30 billion of that at the domestic discretionary -- $50 billion of that is out of national defense and $50 billion of that is domestic discretionary. will the...
113
113
Nov 3, 2012
11/12
by
CSPAN
tv
eye 113
favorite 0
quote 0
hike and spending cuts that we call the fiscal cliff. which of your stated positions are you willing to compromise to break this budget gridlock? please be specific? >> where you are talking about is january 1, 2013. some people call it "taxmegeddon." there is a problem of the sequestration and the 10% cut to defense and a tax increase. all of these pose a lot of challenges. the solution of this has to be done in a couple of things. reduce the size of the federal government and get the private sector going. you cannot do just one or the other. the best thing to do is first, get the red tape under control. they are driving our business efficiency down and pulling jobs overseas. second, we got high unemployment, but we have the highest corporate tax rate in the world. that does not make sense. we need to reduce the corporate tax rate. a combination of those things, reducing the federal spending and take care of the red tape and reduce the taxes. put that together and you have put the budget under control. >> thank you. senator mccaskill, y
hike and spending cuts that we call the fiscal cliff. which of your stated positions are you willing to compromise to break this budget gridlock? please be specific? >> where you are talking about is january 1, 2013. some people call it "taxmegeddon." there is a problem of the sequestration and the 10% cut to defense and a tax increase. all of these pose a lot of challenges. the solution of this has to be done in a couple of things. reduce the size of the federal government and...
118
118
May 23, 2012
05/12
by
CSPAN
tv
eye 118
favorite 0
quote 0
it is called the fiscal cliff. the biggest thing is the bush era tax cuts coming from the 2001 and 2003 tax cut that george w. bush signed. they will expire. they were expended for two years. they will expire. that will be the bulk of it. we will see automatic spending cuts totaling $109 billion. that was triggered by the debt ceiling deal in august. it was forged when the house refused to raise the nation's borrowing limit. one part was deficit caps, spending caps over 10 years in the second part was creating the super committee that was supposed to come up with 1.2 trillion dollars. in additional cuts. that failed last year. as a punishment, and the $109 billion cut was supposed to happen on january 2. those are the major ones. there are other things that are contributing to this. there is a payroll tax cut that is temporary. no one expects to extend past december. we have the doc fix -- congress always extended that. if they fail to do it this time, that will contribute to the fiscal cliff. the basic idea is tha
it is called the fiscal cliff. the biggest thing is the bush era tax cuts coming from the 2001 and 2003 tax cut that george w. bush signed. they will expire. they were expended for two years. they will expire. that will be the bulk of it. we will see automatic spending cuts totaling $109 billion. that was triggered by the debt ceiling deal in august. it was forged when the house refused to raise the nation's borrowing limit. one part was deficit caps, spending caps over 10 years in the second...
155
155
Nov 10, 2012
11/12
by
CSPAN
tv
eye 155
favorite 0
quote 0
so-called fiscal cliff. during this briefing, news broke that cia director david petraeus had resigned due to an extramarital affair. shortly after this, president obama release is statement except in his presentation. this briefing is just under an hour -- accepting his resignation. this briefing is just under an hour. >> good afternoon. ladies and gentlemen, welcome back to the white house briefing room. it's a pleasure to be back. we haven't done this too often of late since we've all been traveling. i want to thank all of you who traveled with us over the past weeks and months. i know it was sometimes grueling. i'm sure fascinating and certainly part of what is a remarkable process. it's just a reminder of the greatness of the country in which we live. before i take your questions, let me give you this announcement. next thursday the president will travel to new york to view recovery efforts and meet with families and officials and thank first responders who have worked tire leslie following hurricane sa
so-called fiscal cliff. during this briefing, news broke that cia director david petraeus had resigned due to an extramarital affair. shortly after this, president obama release is statement except in his presentation. this briefing is just under an hour -- accepting his resignation. this briefing is just under an hour. >> good afternoon. ladies and gentlemen, welcome back to the white house briefing room. it's a pleasure to be back. we haven't done this too often of late since we've all...
105
105
Mar 22, 2012
03/12
by
CSPAN
tv
eye 105
favorite 0
quote 0
is taken, what i turned the fiscal cliff, general first, 2013, as a number of taxes and other things expire, the bush tax cuts, the payroll tax, and the spending side and the sequestration arising from the failure of the super committee to agree kicks in. if all those things happen, i think that would be a very sharp and rapid fiscal contraction that would be a serious a serious negative. i hope congress will take the opportunity to think. when they want this policy to go. >> austerity too fast and spending cuts to san? -- in spending cuts too soon? that is what you're speaking of the? >> a very sharp change in fiscal stance in a short amount of time would have a negative affect on growth. it is important to a cheese sustainability. one day is a short time to have such a change in position. >> i know you spoke of this. view of the economic spokesmen for the administration and the thing that roll on. i heard you speak about the tax increase. can you speak to this tax the president's budget that he submitted false short of that. there is only one fiscal plan that put this on a sustaina
is taken, what i turned the fiscal cliff, general first, 2013, as a number of taxes and other things expire, the bush tax cuts, the payroll tax, and the spending side and the sequestration arising from the failure of the super committee to agree kicks in. if all those things happen, i think that would be a very sharp and rapid fiscal contraction that would be a serious a serious negative. i hope congress will take the opportunity to think. when they want this policy to go. >> austerity...
104
104
Nov 20, 2012
11/12
by
CSPAN
tv
eye 104
favorite 0
quote 0
guest: we have a short-term challenge which is the fiscal cliff, the tax cuts, the schedule, probably the tax increases that are scheduled, the expiration of tax cuts, and the schedule sequestration, and other spending cuts. that is short-term. the structural is known demographic trends, 10,000 people a day are retiring and will over the net 17 years. all care costs are still growing much faster than inflation and the economy. our tax system is outdated and needs to be restructured. those create large and growing deficits into the future. it's not a long-term anymore. it is the longer-term. we see it. these are going to be with us a long time and we need to recognize that reality sooner rather than later. host: first call from philadelphia, frank on our republican line. caller: good morning. i wanted to know if you -- whether or not the president will have to lower his threshold to people that are probably making around $200,000 a year. i don't think what he said during his campaign is going to cut its to get us over the cliff. guest: i think over time we will have to look and help to
guest: we have a short-term challenge which is the fiscal cliff, the tax cuts, the schedule, probably the tax increases that are scheduled, the expiration of tax cuts, and the schedule sequestration, and other spending cuts. that is short-term. the structural is known demographic trends, 10,000 people a day are retiring and will over the net 17 years. all care costs are still growing much faster than inflation and the economy. our tax system is outdated and needs to be restructured. those...
196
196
Oct 5, 2012
10/12
by
CSPAN
tv
eye 196
favorite 0
quote 0
fiscal cliff after the first of the year. later, the senate debate in the jersey. on washington journal tomorrow morning, we will be joined by ann coulter. we will talk about politics with katrina vanden heuvel, editor of "the nation." washington journal is live everyday at 7:00 eastern. >> americans are not the only people to have a september 11 in their national story. in santiago, chile there was a september 11 even that had a dramatic impact on chilean history and memory. military officers on that day had a full-scale assault on their country. it took over radio stations, police stations, and other centers of power. they stormed the presidential palace, charged through guns blazing. when they were done, the president of chile were dead. a these events led by an army general named agusto. -- augusto pinochet. what most chileans did not know at what many americans still do not know was that the coup of september 11, 1973 was the work of intelligence operatives -- american intelligence operatives that took their orders direc
fiscal cliff after the first of the year. later, the senate debate in the jersey. on washington journal tomorrow morning, we will be joined by ann coulter. we will talk about politics with katrina vanden heuvel, editor of "the nation." washington journal is live everyday at 7:00 eastern. >> americans are not the only people to have a september 11 in their national story. in santiago, chile there was a september 11 even that had a dramatic impact on chilean history and memory....
161
161
Nov 19, 2012
11/12
by
CSPAN
tv
eye 161
favorite 0
quote 0
you know, i noit there are some even at my party who were trying to second that fiscal cliff. so on the -- the media questions, we want to extend them for moat people. what we also want to do is tax reform. it produced lower rates even for the wealthiest. the president called for. by making the tax clothes simple, and there's a certain anlt of revenue that will put us on the right fiscal pass. there's the number. that you know, any bowles, simson any of the fiscal efforts should not be in there. we want to enghage comprehensive back story. medicare, medicaid. these are cheap coverage. there's other spending we have to cut. and so i think where the big bottle next right nowl is the big -- and do some tough things. you know, the notion that somehow that these deficits are not a threat to our national security on our economic future is something i could not disagree with more strongly. there are some -- maybe not so much in our party but we have to deal with this. think about this by the way the debt ceiling. i happen to believe,i'm not an economic in traying. we have to understa
you know, i noit there are some even at my party who were trying to second that fiscal cliff. so on the -- the media questions, we want to extend them for moat people. what we also want to do is tax reform. it produced lower rates even for the wealthiest. the president called for. by making the tax clothes simple, and there's a certain anlt of revenue that will put us on the right fiscal pass. there's the number. that you know, any bowles, simson any of the fiscal efforts should not be in...
96
96
Dec 22, 2012
12/12
by
CSPAN
tv
eye 96
favorite 0
quote 0
a house is done its part to avert the fiscal cliff. we have passed legislation that would replace the sequester with responsible spending cuts. he also passed a bill to stop all of the january 1 tax cuts. -- we also passed a bill to stop all of the generally when tax cuts. the american people reelected president obama on election date. the also elected the republican majority in the house. they gave us a mandate not to raise taxes on families and small businesses, but a mandate to work together to solve the massive debt that threatens our country's future. unfortunately the president and senate democrats have vowed to reject indeed all of our proposals while failing to offer responsible solutions of their own. what the president has offered so far will not do anything to solve our spending problem and begin to adjust our nation's crippling debt. instead he wants more spending and tax hikes that will hurt our economy. he refuses to challenge the members of his party to deal honestly with entitlement reform and the big issues that are fa
a house is done its part to avert the fiscal cliff. we have passed legislation that would replace the sequester with responsible spending cuts. he also passed a bill to stop all of the january 1 tax cuts. -- we also passed a bill to stop all of the generally when tax cuts. the american people reelected president obama on election date. the also elected the republican majority in the house. they gave us a mandate not to raise taxes on families and small businesses, but a mandate to work together...
126
126
Dec 5, 2012
12/12
by
CSPAN
tv
eye 126
favorite 0
quote 0
host: you are talking about the payroll tax cut, extending that possibly as part of the fiscal cliff negotiations. caller: right. it will cost them in the long run. host: because the money is coming out of social security. politicians say that will not happen. they say social security will have its money. caller: they tell you all kinds of things. host: john in atlanta, democratic caller. caller: how are you? it seems like it is open phones. i think as far as the fiscal cliff is concerned, the democrats and republicans need to come together and they need to do that rather quickly, because that's the way i feel about it. host: do you think it decides it should just agree to pass the tax cuts -- extend the tax cuts for middle-class americans and then wait until later to resume the debate over spending and tax cuts for wealthy americans? caller: they should start with that. and if they agree on that, then they can go on to the next thing. but this lagging and dragging along on both sides makes no sense. host: here is the washington post this morning. [video clip] >> i don't think the is
host: you are talking about the payroll tax cut, extending that possibly as part of the fiscal cliff negotiations. caller: right. it will cost them in the long run. host: because the money is coming out of social security. politicians say that will not happen. they say social security will have its money. caller: they tell you all kinds of things. host: john in atlanta, democratic caller. caller: how are you? it seems like it is open phones. i think as far as the fiscal cliff is concerned, the...